Global Precision Agriculture Market

Global Precision Agriculture Market: Focus on Solution (Hardware System, Software, and Service) and Application (Irrigation, Field Monitoring, Spraying, Fertilization, Planting, and Data Management) - Analysis and Forecast, 2018-2025

Precision agriculture technologies comprise specialized equipment, software, and IT services. Wide-scale adoption of precision agriculture technologies is expected to enhance the potential Return on Investments (ROI) to farmers. Rising awareness coupled with the increased governmental support for sustainable farming technologies are expected to propel the market growth of precision agriculture.

SKU: AG002C
Published Year: 2018
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Over the last decade, the global agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices. Rising global population and high-income growth have resulted in growing concerns of food security across the world. Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems. With the rapid employment of precision agriculture solutions, farmers are able to enhance production yield by increasing inputs and efficient management of farm enterprises. The advent of innovative farm management techniques has resulted in reduced energy consumption and overall cost-effective operations owing to their precise and resource-efficient approach. 

The market research study offers a broad perspective of the different types of solutions and applications pertaining to precision agriculture and analyzes its impact on the farming sector by providing critical insights into the direction of its future expansion. The study provides a detailed analysis of the market ecosystem, supply chain, and regional growth for precision agriculture technologies. The report highlights the critical driving and restraining forces for this market as well as the market opportunities in different application segments, such as irrigation, field monitoring, fertilization, spraying, planting, data management, and others, of the precision agriculture market. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models. 

The report answers the following questions about the global precision agriculture market:

•    What is the anticipated global precision agriculture market size in terms of revenue from 2017-2025 along with the growth rate during the forecast period 2018-2025?
•    What is the anticipated revenue generated by the different solutions such as hardware systems, software, and services for the precision agriculture market in the forecast period?
•    What is the market size of precision agriculture solutions for different applications including irrigation, field monitoring, fertilization, spraying, planting, data management, and others? 
•    What is the anticipated precision agriculture market size for different regions based on various solutions and applications in the forecast period?
•    What are the key trends and opportunities in the market pertaining to countries included in different geographical regions?
•    How attractive is the precision agriculture market for different stakeholders present in the farming industry by analyzing the complete supply chain?
•    What are the major driving forces that are expected to increase the demand for precision agriculture during the forecast period?
•    What are the major challenges inhibiting the growth of the global precision agriculture market?
•    What are the upcoming trends and opportunities in the market?
•    What kind of new strategies is being adopted by the existing market players to expand their market position in the industry?
•    What is the competitive strength of the key players in the precision agriculture market by analyzing their recent developments, product offerings, and regional presence?

The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the precision agriculture market by the players and government.

Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Each region details the individual push and pull forces in addition to the key players from that region. AGCO Corporation, Ag Leader Technology, AgJunction, CNH Industrial, Conservis Corporation, Deere & Company, DICKEY-john, DJI Innovations, Hexagon Agriculture, Iteris Inc., Lindsay Corporation, Raven Industries, Topcon Positioning Systems, Trimble Inc., The Climate Corporation, Valmont Industries Inc., and Farmers Edge, are some of the leading players in this market.

   Executive Summary
   1   Market Dynamics
        1.1   Market Drivers
                1.1.1   Increasing Concerns over Global Food Insecurity
                1.1.2   Cost-Effective Farming Solutions
                1.1.3   Favorable Government Initiatives and Investments
                1.1.4   Growing Market Penetration of ICT in Farming
        1.2   Market Restraints
                1.2.1   High Initial Investment
                1.2.2   Lack of Awareness and Infrastructure in Emerging Economies
        1.3   Market Opportunities
                1.3.1   Increasing Growth Opportunities in the Developing Countries
                1.3.2   Advent of Agricultural Drones
                1.3.3   Farm Data Management Using Big Data Analytics
 
   2   Competitive Insights
        2.1   Key Market Developments and Strategies
                2.1.1   Partnerships, Collaborations, and Joint Ventures
                2.1.2   Product Launches and Development
                2.1.3   Merger and Acquisitions
                2.1.4   Business Expansion and Contracts
                2.1.5   Others (Awards and Recognitions)
        2.2   Market Share Analysis
                2.2.1   Market Share Analysis of Global Precision Technology Vendors
                2.2.2   Market Share Analysis of Global Precision Agriculture-based Equipment Manufacturers
 
   3   Industry Analysis
        3.1   Precision Agriculture Market Ecosystem
        3.2   Supply Chain Analysis
        3.3   Key Venture Capital Investments
        3.4   Upcoming Trends in the Precision Agriculture Market
                3.4.1   Driverless Tractors
                3.4.2   Nanotechnology-based Precision Agriculture
                3.4.3   Securing the Agriculture Value Chain with Blockchain
        3.5   Industry Attractiveness
                3.5.1   Threat of New Entrants
                3.5.2   Bargaining Power of Buyers
                3.5.3   Bargaining Power of Suppliers
                3.5.4   Threat from Substitutes
                3.5.5   Intensity of Competitive Rivalry
 
   4   Global Precision Agriculture Market (by Solution)
        4.1   Assumptions for Analysis and Forecast of the Global Precision Agriculture Market
        4.2   Limitations for Analysis and Forecast of the Global Precision Agriculture Market
        4.3   Market Overview
        4.4   Hardware Systems
                4.4.1   Robotics and Automation Systems
                4.4.2   Sensing, Monitoring, and Navigation Systems
                4.4.3   Other Systems
        4.5   Software
                4.5.1   On-Cloud Delivery Model
                4.5.2   On-Premise Delivery Model
        4.6   Services
                4.6.1   Integration and Deployment
                4.6.2   Maintenance and Support
                4.6.3   Other Services
 
   5   Global Precision Agriculture Market (by Application)
        5.1   Precision Irrigation
        5.2   Field Monitoring
        5.3   Precision Spraying
        5.4   Precision Fertilization
        5.5   Precision Planting
        5.6   Data Management
        5.7   Others
 
   6   Global Precision Agriculture Market (by Region)
        6.1   North America
                6.1.1   North America (by Solution)
                6.1.2   North America (by Application)
                6.1.3   North America (by Country)
                           6.1.3.1   The U.S.
                           6.1.3.2   Canada
                           6.1.3.3   Mexico
                           6.1.3.4   Rest-of-North America
        6.2   Europe
                6.2.1   Europe (by Solution)
                6.2.2   Europe (by Application)
                6.2.3   Europe (by Country)
                           6.2.3.1   Germany
                           6.2.3.2   The U.K.
                           6.2.3.3   France
                           6.2.3.4   The Netherlands
                           6.2.3.5   Italy
                           6.2.3.6   Spain
                           6.2.3.7   Denmark
                           6.2.3.8   Rest-of-Europe
        6.3   Asia-Pacific
                6.3.1   Asia-Pacific (by Solution)
                6.3.2   Asia-Pacific (by Application)
                6.3.3   Asia-Pacific (by Country)
                           6.3.3.1   China
                           6.3.3.2   Japan
                           6.3.3.3   Australia and New Zealand (ANZ)
                           6.3.3.4   India
                           6.3.3.5   Indonesia
                           6.3.3.6   Turkey
                           6.3.3.7   Vietnam
                           6.3.3.8   Malaysia
                           6.3.3.9   Rest-of-Asia-Pacific
        6.4   Rest-of-the-World
                6.4.1   Rest-of-the-World (RoW) (by Solution)
                6.4.2   Rest-of-the-World (RoW) (by Application)
                6.4.3   Rest-of-the-World (RoW) (by Country)
                           6.4.3.1   Brazil
                           6.4.3.2   Argentina
                           6.4.3.3   Israel
                           6.4.3.4   South Africa
                           6.4.3.5   Others
 
   7   Company Profiles
       Overview
       Precision Agriculture Equipment Manufacturers
       7.1   AGCO Corporation
               7.1.1   Company Overview
               7.1.2   Product Portfolio
               7.1.3   Financials
               7.1.4   Financial Summary
               7.1.5   SWOT Analysis
       7.2   AgJunction
               7.2.1   Company Overview
               7.2.2   Product Portfolio
               7.2.3   Financials
                          7.2.3.1   Financial Summary
               7.2.4   SWOT Analysis
       7.3   CNH Industrial
               7.3.1   Company Overview
               7.3.2   Product Portfolio
               7.3.3   Financials
                          7.3.3.1   Financial Summary
               7.3.4   SWOT Analysis
       7.4   Deere & Company
               7.4.1   Company Overview
               7.4.2   Product Portfolio
               7.4.3   Financials
                          7.4.3.1   Financial Summary
               7.4.4   SWOT Analysis
       7.5   DICKEY-john
               7.5.1   Company Overview
               7.5.2   Product Portfolio
               7.5.3   Corporate Summary
               7.5.4   SWOT Analysis
       7.6   DJI Innovations
               7.6.1   Company Overview
               7.6.2   Product Portfolio
               7.6.3   Corporate Summary
               7.6.4   SWOT Analysis
      7.7   Hexagon Agriculture
              7.7.1   Company Overview
              7.7.2   Product Portfolio
              7.7.3   Corporate Summary
              7.7.4   SWOT Analysis
      7.8   Raven Industries
              7.8.1   Company Overview
              7.8.2   Product Portfolio
              7.8.3   Financials
                         7.8.3.1   Financial Summary
              7.8.4   SWOT Analysis
      7.9   Lindsay Corporation
              7.9.1   Company Overview
              7.9.2   Product Portfolio
              7.9.3   Financials
                         7.9.3.1   Financial Summary
              7.9.4   SWOT Analysis
     7.10  Topcon Positioning Systems
              7.10.1   Company Overview
              7.10.2   Product Portfolio
              7.10.3   Corporate Summary
              7.10.4   SWOT Analysis
     7.11  Trimble Inc.
              7.11.1   Company Overview
              7.11.2   Product Portfolio
              7.11.3   Financials
                           7.11.3.1   Financial Summary
              7.11.4   SWOT Analysis
     7.12  Valmont Industries Inc.
              7.12.1   Company Overview
              7.12.2   Product Portfolio
              7.12.3   Financials
              7.12.4   Financial Summary
              7.12.5   SWOT Analysis
Key Precision Agriculture Software and Service Provider 222
     7.13  Ag Leader Technology
              7.13.1   Company Overview
              7.13.2   Product Portfolio
              7.13.3   Corporate Summary
              7.13.4   SWOT Analysis
     7.14  Conservis Corporation
              7.14.1   Company Overview
              7.14.2   Corporate Summary
              7.14.3   Product Portfolio
              7.14.4   SWOT Analysis
     7.15  Farmers Edge
              7.15.1   Company Overview
              7.15.2   Product Portfolio
              7.15.3   Corporate Summary
              7.15.4   SWOT Analysis
     7.16  The Climate Corporation
              7.16.1   Company Overview
              7.16.2   Product Portfolio
              7.16.3   Corporate Summary
              7.16.4   SWOT Analysis
     7.17  FarmLogs
              7.17.1    Company Overview
              7.17.2   Product Portfolio
              7.17.3   SWOT Analysis
     7.18  Iteris Inc.
              7.18.1   Company Overview
              7.18.2   Financials
                           7.18.2.1   Financial Summary
              7.18.3   Product Portfolio
              7.18.4   SWOT Analysis
Precision Agriculture Software & Service Start-ups 240
     7.19  365FarmNet GmbH
              7.19.1   Company Overview
              7.19.2   Product Portfolio
              7.19.3   Corporate Summary
              7.19.4   SWOT Analysis
     7.20  Agrivi
              7.20.1   Company Overview
              7.20.2   Product Portfolio
              7.20.3   Corporate Summary
              7.20.4   SWOT Analysis
     7.21  Agroptima S.L
              7.21.1   Company Overview
              7.21.2   Product Portfolio
              7.21.3   Corporate Summary
              7.21.4   SWOT Analysis
     7.22   Granular, Inc.
               7.22.1   Company Overview
               7.22.2   Product Portfolio
               7.22.3   Corporate Summary
               7.22.4   SWOT Analysis
 
8   Research Scope and Methodology
     8.1   Report Scope
     8.2   Global Precision Agriculture Market Research Methodology
             8.2.1   Assumptions
             8.2.2   Limitations
             8.2.3   Primary Data Sources
             8.2.4   Secondary Data Sources
             8.2.5   Data Triangulation
             8.2.6   Market Estimation and Forecast
 
9   Annexure A : List of Key Strategies and Developments (January 2015-May 2018)
 
List of Tables
 
Table 1.1   Initiatives by Governments of Various Countries to Promote Farming
Table 3.1   Driverless Tractors by Leading Companies
Table 3.2   Analyzing the Threat of New Entrants
Table 3.3   Analyzing Bargaining Power of Buyers
Table 3.4   Analyzing the Bargaining Power of Suppliers
Table 3.5   Analyzing the Threat from Substitutes
Table 3.6   Analyzing the Intensity of Competitive Rivalry
Table 4.1   Global Precision Agriculture Market (by Solutions), 2017-2025
Table 4.2   Hardware Systems in Global Precision Agriculture Market (by Type), 2017-2025
Table 4.3   Robotics and Automated Systems (by Key Companies)
Table 4.4   Sensing and Monitoring Systems (by Key Companies)
Table 4.5   Software Solutions (by Key Companies)
Table 4.6   Global Precision Agriculture Market in Software (by Delivery Model), 2017-2025
Table 4.7   Precision Agriculture Services Offered by Major Companies
Table 4.8   Global Precision Agriculture Market in Services (by Type), 2017-2025
Table 5.1   Precision Agriculture Market (by Application), 2017-2025
Table 5.2   Precision Irrigation Products (by Leading Companies)
Table 5.3   Field Monitoring Solutions (by Leading Companies)
Table 5.4   Precision Fertilization Solutions (by Leading Companies)
Table 5.5   Data Management Solutions (by Leading Companies)
Table 6.1   Global Precision Agriculture Market (by Region), 2017-2025
Table 6.2   North America Precision Agriculture Market (by Solution), 2017-2025
Table 6.3   North America Precision Agriculture Market (by Application), 2017-2025
Table 6.4   North American Precision Agriculture Market (by Country), 2017-2025
Table 6.5   Europe Precision Agriculture Market (by Solution), 2017-2025
Table 6.6   Europe Precision Agriculture Market (by Application), 2017-2025
Table 6.7   Europe Precision Agriculture Market (by Country), 2017-2025
Table 6.8   Total Agricultural Farms and Utilized Agricultural Area in Germany (by Farm Size), 2016
Table 6.9   Key Developments by Leading Companies in the U.K. Precision Agriculture Market
Table 6.10   Asia-Pacific Precision Agriculture Market (by Solution), 2017-2025
Table 6.11   Asia-Pacific Precision Agriculture Market (by Application), 2017-2025
Table 6.12   Asia-Pacific Precision Agriculture Market (by Country), 2017-2025
Table 6.13   Rest-of-the-World (RoW) Precision Agriculture Market (by Solutions), 2017-2025
Table 6.14   Rest-of-the-World (RoW) Precision Agriculture Market (by Application), 2017-2025
Table 6.15   RoW Precision Agriculture Market (by Country), 2017-2025
 
List of Figures
 
Figure 1   Macroeconomic Trends Impacting the Precision Agriculture Market Growth
Figure 2   Precision Agriculture Control Points in the Agricultural Value Chain
Figure 3   Global Precision Agriculture Market Snapshot
Figure 4   Global Precision Agriculture Market (by Solution), 2018 and 2025
Figure 5   Global Precision Agriculture Market (by Application), 2018 and 2025 ($Million)
Figure 6 Global Precision Agriculture Market (by Region), 2018-2025
Figure 1.1   Market Dynamics
Figure 1.2   Impact Analysis of Drivers
Figure 1.3   Global Food Demand Projection, 2017-2050
Figure 1.4   Global Agricultural Issues: Annual Statistics
Figure 1.5   Role of ICT in Farming
Figure 1.6   Rise in Global Smartphones Users, 2015-2020 (Billions)
Figure 1.7   Impact Analysis of Restraints
Figure 1.8   Major Applications of UAV/Drone for Precision Agriculture
Figure 2.1   Strategies Adopted by the Key Players
Figure 2.2   Share of Key Market Strategies and Developments
Figure 2.3   Partnerships, Collaborations, and Joint Ventures Share (by Companies)
Figure 2.4   Product Launch and Development Share (by Companies)
Figure 2.5   Mergers and Acquisitions Shares (by Companies)
Figure 2.6   Business Expansion and Contract Shares (by Companies)
Figure 2.7   Market Share Analysis of Precision Agriculture Technology Vendors, 2017 (%)
Figure 2.8   Market Share Analysis of Precision Agriculture-based Equipment Manufacturers, 2017 (%)
Figure 3.1   Precision Agriculture Market Ecosystem
Figure 3.2   Supply Chain Analysis of Precision Agriculture Market
Figure 3.3   Venture Capital Investments in Agri-Tech Sector, 2011-2015
Figure 3.4   Key Venture Capital Investments in Precision Agriculture Market
Figure 3.5   Advantages of Driverless Tractors in Farming
Figure 3.6   Advantages of Nanotechnology in Precision Agriculture
Figure 3.7   Applications of Blockchain Technology in Agriculture
Figure 3.8   Porter’s Five Forces Analysis for the Precision Agriculture Market
Figure 4.1   Global Precision Agriculture Market (by Solutions)
Figure 4.2   Precision Agriculture Market (by Solutions), 2018 and 2025
Figure 4.3   Hardware Systems in Precision Agriculture Market, 2017-2025
Figure 4.4   Software in Precision Agriculture Market, 2017-2025
Figure 4.5   Advantages of On-Cloud Delivery Model
Figure 4.6   Advantages of On-Premise Delivery Model
Figure 4.7   Services in Precision Agriculture Market, 2017-2025
Figure 4.8   Types of Services in Precision Agriculture Market
Figure 5.1   Key Applications of Precision Agriculture Technologies
Figure 5.2   Precision Agriculture Market (by Application), 2018 and 2025
Figure 5.3   Major Irrigation Methods
Figure 5.4   Precision Irrigation in Precision Agriculture Market, 2017-2025
Figure 5.5   Field Monitoring in Precision Agriculture Market, 2017-2025
Figure 5.6   Precision Spraying in Precision Agriculture Market, 2017-2025
Figure 5.7   Precision Fertilization in Precision Agriculture Market, 2017-2025
Figure 5.8   Key Components in Precision Planting Solutions
Figure 5.9   Precision Planting in Precision Agriculture Market, 2017-2025
Figure 5.10   Data Management Market in Precision Agriculture, 2017-2025
Figure 5.11   Other Precision Agriculture Applications Market, 2017-2025
Figure 6.1   Global Precision Agriculture Market Share and CAGR (by Region)
Figure 6.2   North America Precision Agriculture Market, 2017-2025
Figure 6.3   North American Precision Agriculture Market (by Country)
Figure 6.4   Smartphone Market Penetration in the U.S., 2012-2016 (%)
Figure 6.5   The U.S. Precision Agriculture Market, 2017-2025
Figure 6.6   Average Farm Size and the Number of Farms in Canada (2006, 2011, and 2016)
Figure 6.7   Canada Precision Agriculture Market, 2017-2025
Figure 6.8   Mexico Precision Agriculture Market, 2017-2025
Figure 6.9   Rest-of-North America Precision Agriculture Market, 2017-2025
Figure 6.10   Europe Precision Agriculture Market, 2017-2025
Figure 6.11   Europe Precision Agriculture Market (by Country)
Figure 6.12   Germany Precision Agriculture Market, 2017-2025
Figure 6.13   The U.K. Precision Agriculture Technology Adoption Curve
Figure 6.14   The U.K. Precision Agriculture Market, 2017-2025
Figure 6.15   France Precision Agriculture Market, 2017-2025
Figure 6.16   The Netherlands Precision Agriculture Market, 2017-2025
Figure 6.17   Italy Precision Agriculture Market, 2017-2025
Figure 6.18   Spain Precision Agriculture Market, 2017-2025
Figure 6.19   Denmark Precision Agriculture Market, 2017-2025
Figure 6.20   Rest-of-Europe Precision Agriculture Market, 2017-2025
Figure 6.21   Asia-Pacific Precision Agriculture Market, 2017-2025
Figure 6.22   Asia-Pacific Precision Agriculture Market (by Country)
Figure 6.23   China Precision Agriculture Market, 2017-2025
Figure 6.24   Japan Precision Agriculture Market, 2017-2025
Figure 6.25   Major Field of Innovation in Precision Agriculture (by CSIRO Australia)
Figure 6.26   Australia and New Zealand Precision Agriculture Market, 2017-2025
Figure 6.27   Precision Agriculture Adoption in India (by Target Sectors)
Figure 6.28   India Precision Agriculture Market, 2017-2025
Figure 6.29   Indonesia Precision Agriculture Market, 2017-2025
Figure 6.30   Turkey Precision Agriculture Market, 2017-2025
Figure 6.31   Vietnam Precision Agriculture Market, 2017-2025
Figure 6.32   Malaysia Precision Agriculture Market, 2017-2025
Figure 6.33   Rest-of-Asia-Pacific Precision Agriculture Market, 2017-2025
Figure 6.34   Rest-of-the-World (RoW) Precision Agriculture Market, 2017-2025
Figure 6.35   Brazil Precision Agriculture Market, 2017-2025
Figure 6.36   Precision Agriculture Solutions Usage Share in Brazil, 2016
Figure 6.37   Argentina Precision Agriculture Market, 2017-2025
Figure 6.38   Israel Precision Agriculture Market, 2017-2025
Figure 6.39   South Africa Precision Agriculture Market, 2017-2025
Figure 6.40   Others Precision Agriculture Market, 2017-2025
Figure 7.1   Share of Key Companies
Figure 7.2   AGCO Corporation: Overall Financials, 2015-2017
Figure 7.3   AGCO Corporation: Net Revenue (by Region), 2015-2016
Figure 7.4   AGCO Corporation: Net Revenue (by Region), 2017
Figure 7.5   AGCO Corporation: Net Revenue (by Business Segment), 2015-2017
Figure 7.6   AGCO Corporation: SWOT Analysis
Figure 7.7   AgJunction: Overall Financials, 2015-2017
Figure 7.8   Ag Junction: Geographic Revenue Mix, 2015-2017
Figure 7.9   AgJunction: SWOT Analysis
Figure 7.10    CNH Industrial: Overall Financials, 2015-2017
Figure 7.11   CNH Industrial: Net Revenue (by Region), 2015-2017
Figure 7.12   CNH Industrial: Net Revenue (by Business Segment), 2015-2017
Figure 7.13   CNH Industrial: SWOT Analysis
Figure 7.14   Deere & Company: Overall Financials, 2015-2017
Figure 7.15   Deere & Company: Net Revenue (by Region), 2015-2017
Figure 7.16   Deere & Company: Net Revenue (by Business Segment), 2015-2017
Figure 7.17   Deere & Company: SWOT Analysis
Figure 7.18   DICKEY-John: SWOT Analysis
Figure 7.19   DJI Innovations: SWOT Analysis
Figure 7.20   Hexagon Agriculture: SWOT Analysis
Figure 7.21    Raven Industries Inc.: Overall Financials, 2016-2018
Figure 7.22   Raven Industries Inc.: Net Revenue (by Region), 2016-2018
Figure 7.23   Raven Industries Inc.: Net Revenue (by Business Segment), 2016-2018
Figure 7.24   Raven Industries Inc.: SWOT Analysis
Figure 7.25   Lindsay Corporation: Overall Financials, 2015-2017
Figure 7.26   Lindsay Corporation: Net Revenue (by Region), 2015-2017
Figure 7.27   Lindsay Corporation: Net Revenue (by Business Segment), 2015-2017
Figure 7.28   Lindsay Corporation: SWOT Analysis
Figure 7.29   Topcon Positioning Systems: SWOT Analysis
Figure 7.30   Trimble Inc.: Overall Financials, 2015-2017
Figure 7.31   Trimble Inc.: Net Revenue (by Region), 2015-2017
Figure 7.32   Trimble Inc.: Net Revenue (by Business Segment), 2015-2016
Figure 7.33   Trimble Inc.: Net Revenue (by Business Segment), 2017
Figure 7.34   Trimble Inc.: SWOT Analysis
Figure 7.35   Valmont Industries Inc.: Overall Financials, 2015-2017
Figure 7.36   Valmont Industries Inc.: Net Revenue by Region, 2015-2017
Figure 7.37   Valmont Industries Inc.: Net Revenue by Business Segment, 2015-2017
Figure 7.38   Valmont Industries Inc.: SWOT Analysis
Figure 7.39   Ag Leader Technology: SWOT Analysis
Figure 7.40   Conservis Corporation: SWOT Analysis
Figure 7.41   Farmers Edge: SWOT Analysis
Figure 7.42   The Climate Corporation: SWOT Analysis
Figure 7.43   FarmsLogs: SWOT Analysis
Figure 7.44   Iteris: Overall Financials, 2014-2016
Figure 7.45   Iteris: Business Revenue Mix, 2014-2016
Figure 7.46   Iteris, Inc.: SWOT Analysis
Figure 7.47   365FarmNet: SWOT Analysis
Figure 7.48   Agrivi: SWOT Analysis
Figure 7.49   Agroptima S.L: SWOT Analysis
Figure 7.50   Granular, Inc.: SWOT Analysis
Figure 8.1   Precision Agriculture Market Scope
Figure 8.2   Report Design
Figure 8.3   Primary Interview Breakdown, by Companies, Designation, and Region
Figure 8.4   Sources of Secondary Research
Figure 8.5   Data Triangulation
Figure 8.6   Top-Down and Bottom-Up Approach

With the exponential growth of the world population, the subsequent rise in global demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical. Limited availability of natural resources, such as fresh water and arable land, along with slowing yield trends in several staple crops, have further aggravated the problem. Another looming concern over the farming industry is the shifting structure of the agricultural workforce. Moreover, agricultural labor in most of the countries has started to decline. As a result of the declining agricultural workforce, adoption of automated solutions in farming practices has been triggered in order to reduce the need for manual labor.

To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions to the farming arena. These solutions are focused on helping farmers close the supply-demand gap, by ensuring high yields, profitability, and protection of the environment. The approach of using Information Technology (IT) to ensure optimum application of resources to achieve high crop yields and to reduce operational costs is called precision agriculture. Precision agriculture technologies comprise specialized equipment, software, and IT services. Wide-scale adoption of precision agriculture technologies is expected to enhance the potential Return on Investments (ROI) to farmers. Rising awareness coupled with the increased governmental support for sustainable farming technologies are expected to propel the market growth of precision agriculture. These solutions positively impact the agricultural value chain and create various disruptive business opportunities for companies such as agricultural machinery manufacturers, instrument developers, cloud service providers, and agri-input suppliers.

Figure 1
Global Precision Agriculture Market Snapshot

Global Precision Agriculture Market Snapshot

Source: Secondary Research, Expert Views, and BIS Research Analysis

High growth in the market is expected to be driven by the need to apply site-specific farming solutions to manage raw materials and resources as per requirements effectively. Deployment of automation, control and sensing systems to steer the application of agricultural inputs is expected to augment the growth of the market. In emerging countries, growth of the market is expected to be driven by rising awareness among governments of different countries about the need to elevate farm produce while taking care of the environment.

The precision agriculture market encompasses a wide array of solutions such as hardware systems, software, and services. Hardware systems encompass a broad range of systems including robotics & automation systems, sensing, monitoring & navigation systems, and other systems, such as displays, receivers, and handheld equipment. Software solutions consist of software apps, tools, and cloud services that are provided by the companies on a subscription basis. The precision agriculture services include integration & deployment of farm equipment, maintenance & support, and other services such as consultancy and financial services. Major application areas of precision agriculture technologies include irrigation, field monitoring, spraying, fertilization, planting, and data management, among others. Irrigation sector represents the largest application market for precision agriculture technologies. During the forecast period, application areas, such as precision spraying, field monitoring, and data management, are expected to display the maximum growth, owing to the high possibilities of value addition in these segments.

The trends of the precision agriculture market vary across different geographical regions. The precision agriculture market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Presently, North America is at the forefront of the global precision agriculture market, with high market penetration rate in the U.S. Mexico and other emerging countries in the North American region, such as Cuba, Panama, Honduras, and Jamaica, among others, are expected to display robust market growth in the coming five years.

The European market for precision agriculture technologies is quite developed with major growth opportunities arising from countries in the Eastern European region. Farmers’ increasing adaptability of modern technologies and the positive support from the government is also expected to augment the growth in the region. The fastest growth is expected from the Asia-Pacific and South America region. Presence of key agricultural producing countries such as China, India, Indonesia, Brazil, and Argentina in this region is estimated to boost the market for advanced farming techniques.

Competitive Landscape

The precision agriculture market ecosystem comprises established agricultural OEMs, technology vendors, agri-input suppliers, and software & services providers. Rising interest in IoT amongst the agricultural machinery vendors, such as AGCO Corporation, Deere & Company, CLAAS, Kubota Corporation, and CNH Industrial, has been a significant trend in the market. Moreover, players including agri-input giants, such as DuPont, Syngenta, Monsanto (acquired by Bayer in June 2018), ICL Ltd., and BASF, are also focusing on incorporating data analytics and farm management systems in their product offerings. The major precision agriculture technology vendors are Trimble Inc., Raven Industries, Topcon Positioning Systems, Hexagon Agriculture, Ag Leader Technology, and DICKEY John Corporation, among others.

The competitive landscape for the precision agriculture market demonstrates an inclination toward companies adopting strategies such as partnerships and collaborations along with new product launches to introduce new technologies or develop further on the existing product portfolio. Moreover, acquisition activities have increased in the market during the last five years. Presently, the big four agricultural companies, namely Monsanto, DuPont, Syngenta, and BASF are constantly increasing their investment for the digitization of the farming sector, by acquiring or collaborating with the data sciences company. In May 2018, ICL Ltd. partnered with CropX, to invest and develop advanced solutions for the agricultural sector, providing farmers with advanced soil sensor technologies and cloud-based analytics. In February 2018, Syngenta completed its acquisition of FarmShots Inc., a North Carolina-based innovator of high-resolution satellite imagery, to further develop its solutions for farm management and decision-making tools.

With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. For instance, in February 2018, CNH Industrial partnered with Climate Corporation to extend and develop a portfolio of data sharing capabilities enabling farmers with real-time agronomic visualization and decision-making solutions.

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Over the last decade, the global agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices. Rising global population and high-income growth have resulted in growing concerns of food security across the world. Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems. With the rapid employment of precision agriculture solutions, farmers are able to enhance production yield by increasing inputs and efficient management of farm enterprises. The advent of innovative farm management techniques has resulted in reduced energy consumption and overall cost-effective operations owing to their precise and resource-efficient approach. 

The market research study offers a broad perspective of the different types of solutions and applications pertaining to precision agriculture and analyzes its impact on the farming sector by providing critical insights into the direction of its future expansion. The study provides a detailed analysis of the market ecosystem, supply chain, and regional growth for precision agriculture technologies. The report highlights the critical driving and restraining forces for this market as well as the market opportunities in different application segments, such as irrigation, field monitoring, fertilization, spraying, planting, data management, and others, of the precision agriculture market. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models. 

The report answers the following questions about the global precision agriculture market:

•    What is the anticipated global precision agriculture market size in terms of revenue from 2017-2025 along with the growth rate during the forecast period 2018-2025?
•    What is the anticipated revenue generated by the different solutions such as hardware systems, software, and services for the precision agriculture market in the forecast period?
•    What is the market size of precision agriculture solutions for different applications including irrigation, field monitoring, fertilization, spraying, planting, data management, and others? 
•    What is the anticipated precision agriculture market size for different regions based on various solutions and applications in the forecast period?
•    What are the key trends and opportunities in the market pertaining to countries included in different geographical regions?
•    How attractive is the precision agriculture market for different stakeholders present in the farming industry by analyzing the complete supply chain?
•    What are the major driving forces that are expected to increase the demand for precision agriculture during the forecast period?
•    What are the major challenges inhibiting the growth of the global precision agriculture market?
•    What are the upcoming trends and opportunities in the market?
•    What kind of new strategies is being adopted by the existing market players to expand their market position in the industry?
•    What is the competitive strength of the key players in the precision agriculture market by analyzing their recent developments, product offerings, and regional presence?

The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the precision agriculture market by the players and government.

Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Each region details the individual push and pull forces in addition to the key players from that region. AGCO Corporation, Ag Leader Technology, AgJunction, CNH Industrial, Conservis Corporation, Deere & Company, DICKEY-john, DJI Innovations, Hexagon Agriculture, Iteris Inc., Lindsay Corporation, Raven Industries, Topcon Positioning Systems, Trimble Inc., The Climate Corporation, Valmont Industries Inc., and Farmers Edge, are some of the leading players in this market.

   Executive Summary
   1   Market Dynamics
        1.1   Market Drivers
                1.1.1   Increasing Concerns over Global Food Insecurity
                1.1.2   Cost-Effective Farming Solutions
                1.1.3   Favorable Government Initiatives and Investments
                1.1.4   Growing Market Penetration of ICT in Farming
        1.2   Market Restraints
                1.2.1   High Initial Investment
                1.2.2   Lack of Awareness and Infrastructure in Emerging Economies
        1.3   Market Opportunities
                1.3.1   Increasing Growth Opportunities in the Developing Countries
                1.3.2   Advent of Agricultural Drones
                1.3.3   Farm Data Management Using Big Data Analytics
 
   2   Competitive Insights
        2.1   Key Market Developments and Strategies
                2.1.1   Partnerships, Collaborations, and Joint Ventures
                2.1.2   Product Launches and Development
                2.1.3   Merger and Acquisitions
                2.1.4   Business Expansion and Contracts
                2.1.5   Others (Awards and Recognitions)
        2.2   Market Share Analysis
                2.2.1   Market Share Analysis of Global Precision Technology Vendors
                2.2.2   Market Share Analysis of Global Precision Agriculture-based Equipment Manufacturers
 
   3   Industry Analysis
        3.1   Precision Agriculture Market Ecosystem
        3.2   Supply Chain Analysis
        3.3   Key Venture Capital Investments
        3.4   Upcoming Trends in the Precision Agriculture Market
                3.4.1   Driverless Tractors
                3.4.2   Nanotechnology-based Precision Agriculture
                3.4.3   Securing the Agriculture Value Chain with Blockchain
        3.5   Industry Attractiveness
                3.5.1   Threat of New Entrants
                3.5.2   Bargaining Power of Buyers
                3.5.3   Bargaining Power of Suppliers
                3.5.4   Threat from Substitutes
                3.5.5   Intensity of Competitive Rivalry
 
   4   Global Precision Agriculture Market (by Solution)
        4.1   Assumptions for Analysis and Forecast of the Global Precision Agriculture Market
        4.2   Limitations for Analysis and Forecast of the Global Precision Agriculture Market
        4.3   Market Overview
        4.4   Hardware Systems
                4.4.1   Robotics and Automation Systems
                4.4.2   Sensing, Monitoring, and Navigation Systems
                4.4.3   Other Systems
        4.5   Software
                4.5.1   On-Cloud Delivery Model
                4.5.2   On-Premise Delivery Model
        4.6   Services
                4.6.1   Integration and Deployment
                4.6.2   Maintenance and Support
                4.6.3   Other Services
 
   5   Global Precision Agriculture Market (by Application)
        5.1   Precision Irrigation
        5.2   Field Monitoring
        5.3   Precision Spraying
        5.4   Precision Fertilization
        5.5   Precision Planting
        5.6   Data Management
        5.7   Others
 
   6   Global Precision Agriculture Market (by Region)
        6.1   North America
                6.1.1   North America (by Solution)
                6.1.2   North America (by Application)
                6.1.3   North America (by Country)
                           6.1.3.1   The U.S.
                           6.1.3.2   Canada
                           6.1.3.3   Mexico
                           6.1.3.4   Rest-of-North America
        6.2   Europe
                6.2.1   Europe (by Solution)
                6.2.2   Europe (by Application)
                6.2.3   Europe (by Country)
                           6.2.3.1   Germany
                           6.2.3.2   The U.K.
                           6.2.3.3   France
                           6.2.3.4   The Netherlands
                           6.2.3.5   Italy
                           6.2.3.6   Spain
                           6.2.3.7   Denmark
                           6.2.3.8   Rest-of-Europe
        6.3   Asia-Pacific
                6.3.1   Asia-Pacific (by Solution)
                6.3.2   Asia-Pacific (by Application)
                6.3.3   Asia-Pacific (by Country)
                           6.3.3.1   China
                           6.3.3.2   Japan
                           6.3.3.3   Australia and New Zealand (ANZ)
                           6.3.3.4   India
                           6.3.3.5   Indonesia
                           6.3.3.6   Turkey
                           6.3.3.7   Vietnam
                           6.3.3.8   Malaysia
                           6.3.3.9   Rest-of-Asia-Pacific
        6.4   Rest-of-the-World
                6.4.1   Rest-of-the-World (RoW) (by Solution)
                6.4.2   Rest-of-the-World (RoW) (by Application)
                6.4.3   Rest-of-the-World (RoW) (by Country)
                           6.4.3.1   Brazil
                           6.4.3.2   Argentina
                           6.4.3.3   Israel
                           6.4.3.4   South Africa
                           6.4.3.5   Others
 
   7   Company Profiles
       Overview
       Precision Agriculture Equipment Manufacturers
       7.1   AGCO Corporation
               7.1.1   Company Overview
               7.1.2   Product Portfolio
               7.1.3   Financials
               7.1.4   Financial Summary
               7.1.5   SWOT Analysis
       7.2   AgJunction
               7.2.1   Company Overview
               7.2.2   Product Portfolio
               7.2.3   Financials
                          7.2.3.1   Financial Summary
               7.2.4   SWOT Analysis
       7.3   CNH Industrial
               7.3.1   Company Overview
               7.3.2   Product Portfolio
               7.3.3   Financials
                          7.3.3.1   Financial Summary
               7.3.4   SWOT Analysis
       7.4   Deere & Company
               7.4.1   Company Overview
               7.4.2   Product Portfolio
               7.4.3   Financials
                          7.4.3.1   Financial Summary
               7.4.4   SWOT Analysis
       7.5   DICKEY-john
               7.5.1   Company Overview
               7.5.2   Product Portfolio
               7.5.3   Corporate Summary
               7.5.4   SWOT Analysis
       7.6   DJI Innovations
               7.6.1   Company Overview
               7.6.2   Product Portfolio
               7.6.3   Corporate Summary
               7.6.4   SWOT Analysis
      7.7   Hexagon Agriculture
              7.7.1   Company Overview
              7.7.2   Product Portfolio
              7.7.3   Corporate Summary
              7.7.4   SWOT Analysis
      7.8   Raven Industries
              7.8.1   Company Overview
              7.8.2   Product Portfolio
              7.8.3   Financials
                         7.8.3.1   Financial Summary
              7.8.4   SWOT Analysis
      7.9   Lindsay Corporation
              7.9.1   Company Overview
              7.9.2   Product Portfolio
              7.9.3   Financials
                         7.9.3.1   Financial Summary
              7.9.4   SWOT Analysis
     7.10  Topcon Positioning Systems
              7.10.1   Company Overview
              7.10.2   Product Portfolio
              7.10.3   Corporate Summary
              7.10.4   SWOT Analysis
     7.11  Trimble Inc.
              7.11.1   Company Overview
              7.11.2   Product Portfolio
              7.11.3   Financials
                           7.11.3.1   Financial Summary
              7.11.4   SWOT Analysis
     7.12  Valmont Industries Inc.
              7.12.1   Company Overview
              7.12.2   Product Portfolio
              7.12.3   Financials
              7.12.4   Financial Summary
              7.12.5   SWOT Analysis
Key Precision Agriculture Software and Service Provider 222
     7.13  Ag Leader Technology
              7.13.1   Company Overview
              7.13.2   Product Portfolio
              7.13.3   Corporate Summary
              7.13.4   SWOT Analysis
     7.14  Conservis Corporation
              7.14.1   Company Overview
              7.14.2   Corporate Summary
              7.14.3   Product Portfolio
              7.14.4   SWOT Analysis
     7.15  Farmers Edge
              7.15.1   Company Overview
              7.15.2   Product Portfolio
              7.15.3   Corporate Summary
              7.15.4   SWOT Analysis
     7.16  The Climate Corporation
              7.16.1   Company Overview
              7.16.2   Product Portfolio
              7.16.3   Corporate Summary
              7.16.4   SWOT Analysis
     7.17  FarmLogs
              7.17.1    Company Overview
              7.17.2   Product Portfolio
              7.17.3   SWOT Analysis
     7.18  Iteris Inc.
              7.18.1   Company Overview
              7.18.2   Financials
                           7.18.2.1   Financial Summary
              7.18.3   Product Portfolio
              7.18.4   SWOT Analysis
Precision Agriculture Software & Service Start-ups 240
     7.19  365FarmNet GmbH
              7.19.1   Company Overview
              7.19.2   Product Portfolio
              7.19.3   Corporate Summary
              7.19.4   SWOT Analysis
     7.20  Agrivi
              7.20.1   Company Overview
              7.20.2   Product Portfolio
              7.20.3   Corporate Summary
              7.20.4   SWOT Analysis
     7.21  Agroptima S.L
              7.21.1   Company Overview
              7.21.2   Product Portfolio
              7.21.3   Corporate Summary
              7.21.4   SWOT Analysis
     7.22   Granular, Inc.
               7.22.1   Company Overview
               7.22.2   Product Portfolio
               7.22.3   Corporate Summary
               7.22.4   SWOT Analysis
 
8   Research Scope and Methodology
     8.1   Report Scope
     8.2   Global Precision Agriculture Market Research Methodology
             8.2.1   Assumptions
             8.2.2   Limitations
             8.2.3   Primary Data Sources
             8.2.4   Secondary Data Sources
             8.2.5   Data Triangulation
             8.2.6   Market Estimation and Forecast
 
9   Annexure A : List of Key Strategies and Developments (January 2015-May 2018)
 
List of Tables
 
Table 1.1   Initiatives by Governments of Various Countries to Promote Farming
Table 3.1   Driverless Tractors by Leading Companies
Table 3.2   Analyzing the Threat of New Entrants
Table 3.3   Analyzing Bargaining Power of Buyers
Table 3.4   Analyzing the Bargaining Power of Suppliers
Table 3.5   Analyzing the Threat from Substitutes
Table 3.6   Analyzing the Intensity of Competitive Rivalry
Table 4.1   Global Precision Agriculture Market (by Solutions), 2017-2025
Table 4.2   Hardware Systems in Global Precision Agriculture Market (by Type), 2017-2025
Table 4.3   Robotics and Automated Systems (by Key Companies)
Table 4.4   Sensing and Monitoring Systems (by Key Companies)
Table 4.5   Software Solutions (by Key Companies)
Table 4.6   Global Precision Agriculture Market in Software (by Delivery Model), 2017-2025
Table 4.7   Precision Agriculture Services Offered by Major Companies
Table 4.8   Global Precision Agriculture Market in Services (by Type), 2017-2025
Table 5.1   Precision Agriculture Market (by Application), 2017-2025
Table 5.2   Precision Irrigation Products (by Leading Companies)
Table 5.3   Field Monitoring Solutions (by Leading Companies)
Table 5.4   Precision Fertilization Solutions (by Leading Companies)
Table 5.5   Data Management Solutions (by Leading Companies)
Table 6.1   Global Precision Agriculture Market (by Region), 2017-2025
Table 6.2   North America Precision Agriculture Market (by Solution), 2017-2025
Table 6.3   North America Precision Agriculture Market (by Application), 2017-2025
Table 6.4   North American Precision Agriculture Market (by Country), 2017-2025
Table 6.5   Europe Precision Agriculture Market (by Solution), 2017-2025
Table 6.6   Europe Precision Agriculture Market (by Application), 2017-2025
Table 6.7   Europe Precision Agriculture Market (by Country), 2017-2025
Table 6.8   Total Agricultural Farms and Utilized Agricultural Area in Germany (by Farm Size), 2016
Table 6.9   Key Developments by Leading Companies in the U.K. Precision Agriculture Market
Table 6.10   Asia-Pacific Precision Agriculture Market (by Solution), 2017-2025
Table 6.11   Asia-Pacific Precision Agriculture Market (by Application), 2017-2025
Table 6.12   Asia-Pacific Precision Agriculture Market (by Country), 2017-2025
Table 6.13   Rest-of-the-World (RoW) Precision Agriculture Market (by Solutions), 2017-2025
Table 6.14   Rest-of-the-World (RoW) Precision Agriculture Market (by Application), 2017-2025
Table 6.15   RoW Precision Agriculture Market (by Country), 2017-2025
 
List of Figures
 
Figure 1   Macroeconomic Trends Impacting the Precision Agriculture Market Growth
Figure 2   Precision Agriculture Control Points in the Agricultural Value Chain
Figure 3   Global Precision Agriculture Market Snapshot
Figure 4   Global Precision Agriculture Market (by Solution), 2018 and 2025
Figure 5   Global Precision Agriculture Market (by Application), 2018 and 2025 ($Million)
Figure 6 Global Precision Agriculture Market (by Region), 2018-2025
Figure 1.1   Market Dynamics
Figure 1.2   Impact Analysis of Drivers
Figure 1.3   Global Food Demand Projection, 2017-2050
Figure 1.4   Global Agricultural Issues: Annual Statistics
Figure 1.5   Role of ICT in Farming
Figure 1.6   Rise in Global Smartphones Users, 2015-2020 (Billions)
Figure 1.7   Impact Analysis of Restraints
Figure 1.8   Major Applications of UAV/Drone for Precision Agriculture
Figure 2.1   Strategies Adopted by the Key Players
Figure 2.2   Share of Key Market Strategies and Developments
Figure 2.3   Partnerships, Collaborations, and Joint Ventures Share (by Companies)
Figure 2.4   Product Launch and Development Share (by Companies)
Figure 2.5   Mergers and Acquisitions Shares (by Companies)
Figure 2.6   Business Expansion and Contract Shares (by Companies)
Figure 2.7   Market Share Analysis of Precision Agriculture Technology Vendors, 2017 (%)
Figure 2.8   Market Share Analysis of Precision Agriculture-based Equipment Manufacturers, 2017 (%)
Figure 3.1   Precision Agriculture Market Ecosystem
Figure 3.2   Supply Chain Analysis of Precision Agriculture Market
Figure 3.3   Venture Capital Investments in Agri-Tech Sector, 2011-2015
Figure 3.4   Key Venture Capital Investments in Precision Agriculture Market
Figure 3.5   Advantages of Driverless Tractors in Farming
Figure 3.6   Advantages of Nanotechnology in Precision Agriculture
Figure 3.7   Applications of Blockchain Technology in Agriculture
Figure 3.8   Porter’s Five Forces Analysis for the Precision Agriculture Market
Figure 4.1   Global Precision Agriculture Market (by Solutions)
Figure 4.2   Precision Agriculture Market (by Solutions), 2018 and 2025
Figure 4.3   Hardware Systems in Precision Agriculture Market, 2017-2025
Figure 4.4   Software in Precision Agriculture Market, 2017-2025
Figure 4.5   Advantages of On-Cloud Delivery Model
Figure 4.6   Advantages of On-Premise Delivery Model
Figure 4.7   Services in Precision Agriculture Market, 2017-2025
Figure 4.8   Types of Services in Precision Agriculture Market
Figure 5.1   Key Applications of Precision Agriculture Technologies
Figure 5.2   Precision Agriculture Market (by Application), 2018 and 2025
Figure 5.3   Major Irrigation Methods
Figure 5.4   Precision Irrigation in Precision Agriculture Market, 2017-2025
Figure 5.5   Field Monitoring in Precision Agriculture Market, 2017-2025
Figure 5.6   Precision Spraying in Precision Agriculture Market, 2017-2025
Figure 5.7   Precision Fertilization in Precision Agriculture Market, 2017-2025
Figure 5.8   Key Components in Precision Planting Solutions
Figure 5.9   Precision Planting in Precision Agriculture Market, 2017-2025
Figure 5.10   Data Management Market in Precision Agriculture, 2017-2025
Figure 5.11   Other Precision Agriculture Applications Market, 2017-2025
Figure 6.1   Global Precision Agriculture Market Share and CAGR (by Region)
Figure 6.2   North America Precision Agriculture Market, 2017-2025
Figure 6.3   North American Precision Agriculture Market (by Country)
Figure 6.4   Smartphone Market Penetration in the U.S., 2012-2016 (%)
Figure 6.5   The U.S. Precision Agriculture Market, 2017-2025
Figure 6.6   Average Farm Size and the Number of Farms in Canada (2006, 2011, and 2016)
Figure 6.7   Canada Precision Agriculture Market, 2017-2025
Figure 6.8   Mexico Precision Agriculture Market, 2017-2025
Figure 6.9   Rest-of-North America Precision Agriculture Market, 2017-2025
Figure 6.10   Europe Precision Agriculture Market, 2017-2025
Figure 6.11   Europe Precision Agriculture Market (by Country)
Figure 6.12   Germany Precision Agriculture Market, 2017-2025
Figure 6.13   The U.K. Precision Agriculture Technology Adoption Curve
Figure 6.14   The U.K. Precision Agriculture Market, 2017-2025
Figure 6.15   France Precision Agriculture Market, 2017-2025
Figure 6.16   The Netherlands Precision Agriculture Market, 2017-2025
Figure 6.17   Italy Precision Agriculture Market, 2017-2025
Figure 6.18   Spain Precision Agriculture Market, 2017-2025
Figure 6.19   Denmark Precision Agriculture Market, 2017-2025
Figure 6.20   Rest-of-Europe Precision Agriculture Market, 2017-2025
Figure 6.21   Asia-Pacific Precision Agriculture Market, 2017-2025
Figure 6.22   Asia-Pacific Precision Agriculture Market (by Country)
Figure 6.23   China Precision Agriculture Market, 2017-2025
Figure 6.24   Japan Precision Agriculture Market, 2017-2025
Figure 6.25   Major Field of Innovation in Precision Agriculture (by CSIRO Australia)
Figure 6.26   Australia and New Zealand Precision Agriculture Market, 2017-2025
Figure 6.27   Precision Agriculture Adoption in India (by Target Sectors)
Figure 6.28   India Precision Agriculture Market, 2017-2025
Figure 6.29   Indonesia Precision Agriculture Market, 2017-2025
Figure 6.30   Turkey Precision Agriculture Market, 2017-2025
Figure 6.31   Vietnam Precision Agriculture Market, 2017-2025
Figure 6.32   Malaysia Precision Agriculture Market, 2017-2025
Figure 6.33   Rest-of-Asia-Pacific Precision Agriculture Market, 2017-2025
Figure 6.34   Rest-of-the-World (RoW) Precision Agriculture Market, 2017-2025
Figure 6.35   Brazil Precision Agriculture Market, 2017-2025
Figure 6.36   Precision Agriculture Solutions Usage Share in Brazil, 2016
Figure 6.37   Argentina Precision Agriculture Market, 2017-2025
Figure 6.38   Israel Precision Agriculture Market, 2017-2025
Figure 6.39   South Africa Precision Agriculture Market, 2017-2025
Figure 6.40   Others Precision Agriculture Market, 2017-2025
Figure 7.1   Share of Key Companies
Figure 7.2   AGCO Corporation: Overall Financials, 2015-2017
Figure 7.3   AGCO Corporation: Net Revenue (by Region), 2015-2016
Figure 7.4   AGCO Corporation: Net Revenue (by Region), 2017
Figure 7.5   AGCO Corporation: Net Revenue (by Business Segment), 2015-2017
Figure 7.6   AGCO Corporation: SWOT Analysis
Figure 7.7   AgJunction: Overall Financials, 2015-2017
Figure 7.8   Ag Junction: Geographic Revenue Mix, 2015-2017
Figure 7.9   AgJunction: SWOT Analysis
Figure 7.10    CNH Industrial: Overall Financials, 2015-2017
Figure 7.11   CNH Industrial: Net Revenue (by Region), 2015-2017
Figure 7.12   CNH Industrial: Net Revenue (by Business Segment), 2015-2017
Figure 7.13   CNH Industrial: SWOT Analysis
Figure 7.14   Deere & Company: Overall Financials, 2015-2017
Figure 7.15   Deere & Company: Net Revenue (by Region), 2015-2017
Figure 7.16   Deere & Company: Net Revenue (by Business Segment), 2015-2017
Figure 7.17   Deere & Company: SWOT Analysis
Figure 7.18   DICKEY-John: SWOT Analysis
Figure 7.19   DJI Innovations: SWOT Analysis
Figure 7.20   Hexagon Agriculture: SWOT Analysis
Figure 7.21    Raven Industries Inc.: Overall Financials, 2016-2018
Figure 7.22   Raven Industries Inc.: Net Revenue (by Region), 2016-2018
Figure 7.23   Raven Industries Inc.: Net Revenue (by Business Segment), 2016-2018
Figure 7.24   Raven Industries Inc.: SWOT Analysis
Figure 7.25   Lindsay Corporation: Overall Financials, 2015-2017
Figure 7.26   Lindsay Corporation: Net Revenue (by Region), 2015-2017
Figure 7.27   Lindsay Corporation: Net Revenue (by Business Segment), 2015-2017
Figure 7.28   Lindsay Corporation: SWOT Analysis
Figure 7.29   Topcon Positioning Systems: SWOT Analysis
Figure 7.30   Trimble Inc.: Overall Financials, 2015-2017
Figure 7.31   Trimble Inc.: Net Revenue (by Region), 2015-2017
Figure 7.32   Trimble Inc.: Net Revenue (by Business Segment), 2015-2016
Figure 7.33   Trimble Inc.: Net Revenue (by Business Segment), 2017
Figure 7.34   Trimble Inc.: SWOT Analysis
Figure 7.35   Valmont Industries Inc.: Overall Financials, 2015-2017
Figure 7.36   Valmont Industries Inc.: Net Revenue by Region, 2015-2017
Figure 7.37   Valmont Industries Inc.: Net Revenue by Business Segment, 2015-2017
Figure 7.38   Valmont Industries Inc.: SWOT Analysis
Figure 7.39   Ag Leader Technology: SWOT Analysis
Figure 7.40   Conservis Corporation: SWOT Analysis
Figure 7.41   Farmers Edge: SWOT Analysis
Figure 7.42   The Climate Corporation: SWOT Analysis
Figure 7.43   FarmsLogs: SWOT Analysis
Figure 7.44   Iteris: Overall Financials, 2014-2016
Figure 7.45   Iteris: Business Revenue Mix, 2014-2016
Figure 7.46   Iteris, Inc.: SWOT Analysis
Figure 7.47   365FarmNet: SWOT Analysis
Figure 7.48   Agrivi: SWOT Analysis
Figure 7.49   Agroptima S.L: SWOT Analysis
Figure 7.50   Granular, Inc.: SWOT Analysis
Figure 8.1   Precision Agriculture Market Scope
Figure 8.2   Report Design
Figure 8.3   Primary Interview Breakdown, by Companies, Designation, and Region
Figure 8.4   Sources of Secondary Research
Figure 8.5   Data Triangulation
Figure 8.6   Top-Down and Bottom-Up Approach

With the exponential growth of the world population, the subsequent rise in global demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical. Limited availability of natural resources, such as fresh water and arable land, along with slowing yield trends in several staple crops, have further aggravated the problem. Another looming concern over the farming industry is the shifting structure of the agricultural workforce. Moreover, agricultural labor in most of the countries has started to decline. As a result of the declining agricultural workforce, adoption of automated solutions in farming practices has been triggered in order to reduce the need for manual labor.

To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions to the farming arena. These solutions are focused on helping farmers close the supply-demand gap, by ensuring high yields, profitability, and protection of the environment. The approach of using Information Technology (IT) to ensure optimum application of resources to achieve high crop yields and to reduce operational costs is called precision agriculture. Precision agriculture technologies comprise specialized equipment, software, and IT services. Wide-scale adoption of precision agriculture technologies is expected to enhance the potential Return on Investments (ROI) to farmers. Rising awareness coupled with the increased governmental support for sustainable farming technologies are expected to propel the market growth of precision agriculture. These solutions positively impact the agricultural value chain and create various disruptive business opportunities for companies such as agricultural machinery manufacturers, instrument developers, cloud service providers, and agri-input suppliers.

Figure 1
Global Precision Agriculture Market Snapshot

Global Precision Agriculture Market Snapshot

Source: Secondary Research, Expert Views, and BIS Research Analysis

High growth in the market is expected to be driven by the need to apply site-specific farming solutions to manage raw materials and resources as per requirements effectively. Deployment of automation, control and sensing systems to steer the application of agricultural inputs is expected to augment the growth of the market. In emerging countries, growth of the market is expected to be driven by rising awareness among governments of different countries about the need to elevate farm produce while taking care of the environment.

The precision agriculture market encompasses a wide array of solutions such as hardware systems, software, and services. Hardware systems encompass a broad range of systems including robotics & automation systems, sensing, monitoring & navigation systems, and other systems, such as displays, receivers, and handheld equipment. Software solutions consist of software apps, tools, and cloud services that are provided by the companies on a subscription basis. The precision agriculture services include integration & deployment of farm equipment, maintenance & support, and other services such as consultancy and financial services. Major application areas of precision agriculture technologies include irrigation, field monitoring, spraying, fertilization, planting, and data management, among others. Irrigation sector represents the largest application market for precision agriculture technologies. During the forecast period, application areas, such as precision spraying, field monitoring, and data management, are expected to display the maximum growth, owing to the high possibilities of value addition in these segments.

The trends of the precision agriculture market vary across different geographical regions. The precision agriculture market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Presently, North America is at the forefront of the global precision agriculture market, with high market penetration rate in the U.S. Mexico and other emerging countries in the North American region, such as Cuba, Panama, Honduras, and Jamaica, among others, are expected to display robust market growth in the coming five years.

The European market for precision agriculture technologies is quite developed with major growth opportunities arising from countries in the Eastern European region. Farmers’ increasing adaptability of modern technologies and the positive support from the government is also expected to augment the growth in the region. The fastest growth is expected from the Asia-Pacific and South America region. Presence of key agricultural producing countries such as China, India, Indonesia, Brazil, and Argentina in this region is estimated to boost the market for advanced farming techniques.

Competitive Landscape

The precision agriculture market ecosystem comprises established agricultural OEMs, technology vendors, agri-input suppliers, and software & services providers. Rising interest in IoT amongst the agricultural machinery vendors, such as AGCO Corporation, Deere & Company, CLAAS, Kubota Corporation, and CNH Industrial, has been a significant trend in the market. Moreover, players including agri-input giants, such as DuPont, Syngenta, Monsanto (acquired by Bayer in June 2018), ICL Ltd., and BASF, are also focusing on incorporating data analytics and farm management systems in their product offerings. The major precision agriculture technology vendors are Trimble Inc., Raven Industries, Topcon Positioning Systems, Hexagon Agriculture, Ag Leader Technology, and DICKEY John Corporation, among others.

The competitive landscape for the precision agriculture market demonstrates an inclination toward companies adopting strategies such as partnerships and collaborations along with new product launches to introduce new technologies or develop further on the existing product portfolio. Moreover, acquisition activities have increased in the market during the last five years. Presently, the big four agricultural companies, namely Monsanto, DuPont, Syngenta, and BASF are constantly increasing their investment for the digitization of the farming sector, by acquiring or collaborating with the data sciences company. In May 2018, ICL Ltd. partnered with CropX, to invest and develop advanced solutions for the agricultural sector, providing farmers with advanced soil sensor technologies and cloud-based analytics. In February 2018, Syngenta completed its acquisition of FarmShots Inc., a North Carolina-based innovator of high-resolution satellite imagery, to further develop its solutions for farm management and decision-making tools.

With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. For instance, in February 2018, CNH Industrial partnered with Climate Corporation to extend and develop a portfolio of data sharing capabilities enabling farmers with real-time agronomic visualization and decision-making solutions.

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